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Retained earnings a asset or liability?
Retained earnings are non distributed profit part and hence a liability of the company to payback to the owners of company on case of dissolution that's why retained earning is liability and not the asset.
Can the asset revaluation reserve amortized or written off to the P and L every year?
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Do retained earning and retained profit the same?
Yes
Are retained earnings an asset equity or liability?
asset equity
Is retained earning an capital?
Yes
Retained earnings a asset or liability?
Retained earnings are non distributed profit part and hence a liability of the company to payback to the owners of company on case of dissolution that's why retained earning is liability and not the asset.
What is the Journal Entry for receiving a donated asset from City Government?
[Debit] Donated Assets [Credit] Retained Earning / OE
Can the asset revaluation reserve amortized or written off to the P and L every year?
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Do retained earning and retained profit the same?
Yes
What is the difference between appropriated and unappropriated retained earnings?
Net earning of the firms, included retained earning, dividend etc.
Are retained earnings an asset equity or liability?
asset equity
Is retained earning an capital?
Yes
What are the three types of appropriated retained earning accounts?
Stock buyback is one of the three types of appropriated retained earning accounts. Also, new product development and acquisitions are two other types of appropriated retained earning accounts.
What is the journal entry if asset appreciates?
Debit Asset accountCredit retained earnings
Are retained earnings an asset or liability?
assets
What are Dividends in excess of retained earning?
Dividends in excess of retained earnings are not allowed by the IRS or CRA.
What is a retained earning?
Retained Earnings represent the amount that an entity has increased in value due to Net Income.
